PS4 Sales Double Year-Over-Year, Sony Profits Jump - News
by William D'Angelo , posted on 01 May 2015 / 5,548 Views
Sony has released its earnings result for the last fiscal year, which ended March 31. Revenue for the fiscal year increased 5.8 percent to $68.47 billion. Profits jumped 158.7 percent to $571 million.
Sony's Game and Network Services division's revenue increased 33 percent to $11.57 billion. The division went from a loss of $18.8 million a year ago to profits of $401 million. The jump in sales was due to the success of the PlayStation 4 and PlayStation Plus.
Sony shipped 14.8 million PlayStation 4 consoles worldwide during the quarter to bring lifetime shipments to 22.3 million units. Sales for Sony's handhelds increased thanks to the success of the PlayStation TV. The firm managed to sell 3.3 million handhelds.
Sony expects to ship 16 million PlayStation 4 consoles in the next fiscal year. The company also expects revenue for the Game and Network Services division to be flat year-over-year. However, profits are expected to drop due to lower sales of the PlayStation 3 and the negative impact of foreign exchange rates.
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A life-long and avid gamer, William D'Angelo was first introduced to VGChartz in 2007. After years of supporting the site, he was brought on in 2010 as a junior analyst, working his way up to lead analyst in 2012. He has expanded his involvement in the gaming community by producing content on his own YouTube channel and Twitch channel dedicated to gaming Let's Plays and tutorials. You can contact the author at wdangelo@vgchartz.com or on Twitter @TrunksWD.
